Thai Petrochemical Industry Polene Power (TPIPP) has signed a memorandum of understanding with Korea Gas Corp (KOGAS) and Korea Western Power to cooperate for Thailand’s Songkhla Gas to Power (GTP) project. Construction is to begin in 2022, and the power plant is scheduled to run for 25 years.
According to the partnership agreement, KOGAS will be responsible for LNG procurement and terminal construction while leading financial procurement along with Korea Western Power. Meanwhile, TPIPP will be in charge of licensing and participate in business operations.
TPIPP is a subsidiary of TPI Group which engages in power generation and sales of electricity. TPI operates waste heat recovery (WHR) power plants and refuse-derived fuel (RDF) power plants. The company operates a total of 440 MW in Thailand.
The Songkhla GTP project is a large-scale LNG project which includes the construction of terminals and power plants in the Songkhla region in southern Thailand, near the border with Malaysia. The project is a part of the state plan to make Thailand a regional LNG trading hub.
For 2021, the Electricity Generating Authority of Thailand (EGAT) plans to import 1.9 million tonnes of LNG and 1.8 million tonnes in 2022. Currently, Thailand’s sole LNG import terminal is owned by state-owned energy giant PTT Group.
(Sources: Business Korea; Bangkok Post)
Korean Companies Contribute to the Development of Thailand’s LGN Industry
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